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Setting Stop Losses 设定止损: Page 6 of 8

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4 Big Mistakes Traders Make When Setting Stops

In this section, we’ll talk about the common mistakes traders make when using stops. Sure, it’s one way to practice proper risk management but when used incorrectly, it could lead to more losses than wins. And you don’t want that, do ya?

1. Placing stops too dang tight.

Stop Loss Too Tight! The first common mistake is placing stops tighter than those leather pants that Big Pippin used to wear back in the retro days.They’re so tight that there ain’t no room to breathe!

In placing ultra-tight stops on trades, there won’t be enough “breathing room” for the price to fluctuate before ultimately heading your way.

Always remember to account for the pair’s volatility and the fact that it could dilly-dally around your entry point for a bit before continuing in a particular direction.

For instance, let’s say you went long GBP/JPY at 145.00 with a stop at 144.90. Even if you are right in predicting that the price would bounce from that area, it’s a possibility that the price will still dip 10-15 pips lower than your entry price before popping higher, probably until 147.00.

But guess what?

You weren’t able to rake in a 200-pip profit because you got stopped out in a jiffy. So don’t forget: Give your trade enough breathing room and take volatility into account!

2. Using position size like “X number of pips” as a basis for stops.

We’ve mentioned this earlier in the lesson already: Using position size like “X number of pips” or “$X amount” instead of technical analysis to determine stops is a BAD idea. We learned that from Newbie Ned, remember?

As we discussed, using position sizing to calculate how far your stop should be has nothing to do with how the market is behaving. Since we’re trading the market, it’d make much more sense to set stops depending on how the market moves.

After all, you picked your entry point and targets based on technical analysis so you should do the same for your stop. Position size should depend on your stop loss

We’re not saying that you should forget about position size completely. What we’re recommending is that you should decide where to place your stops first BEFORE calculating your position size.

3. Placing stops too far or too wide.

Some traders make the mistake of setting stops way too far, crossing their fingers that price action will head their way sooner or later. Well, what’s the point of setting stops then?

What’s the point of holding on to a trade that keeps losing and losing when you can use that money to go for a more profitable one?

Setting stops too far increase the amount of pips your trade needs to move in your favor to make the trade worth the risk.

The general rule of thumb is to place stops closer to entry than profit targets.

Of course you’d want to go for less risk and bigger reward, right? With a good reward-to-risk ratio, say 2:1, you’d be more likely to end up with profits if you’re right on the money with your trades at least 50% of the time.

4. Placing stops exactly on support/resistance levels.

Setting stops too tight? Bad. Setting stops too far? Bad. Where exactly is a good stop placed then? Well, not exactly on support or resistance levels, we can tell you that. How come?

Didn’t we just say that technical analysis is the way to go when determining stops? Sure, it’s helpful to note nearby support and resistance levels when deciding where to place stops.

If you’re going long, you can just look for a nearby support level below your entry and set your stop in that area. If you’re going short, you can find out where the next resistance level above your entry is and put your stop around there.

But why isn’t it a good idea to put it right smack on the support or resistance level? The reason is that the price could still have a chance to turn and head your direction upon reaching that level.

If you place your stop a few pips beyond that area then you’d be more or less sure that the support or resistance is already broken and you can then acknowledge that your trade idea was wrong.

首要使用错误

本节,我们将讲讲交易者们设定止损时常见的错误。设定止损是练习资金管理的可行方法之一,但若使用不当,它会导致受损增加,而非获利增加。你不希望那样,对吗?

止损设定太紧

第一个常见的错误就是止损设定太紧,以至于没有呼吸的空间。

给交易设定超级紧的止损,则在价格按照你设想的方向变动前,无法给其预留足够的呼吸空间。

记住要将货币对的波动性考虑在内,在按某个方向变动前,它有可能会在入场点位附近晃悠一会。

例如,假设你在145.00做多英镑/日元,并将止损设定在144.90。即使你正确的预计了价格将在这个区域反弹,但它很有可能会在向上反弹至147.00前,向下变动10至15点。

猜猜发生了什么?你不能斩获200点利润,因为你立即止损离场了。

所以别忘了:给你的交易足够的呼吸空间,把波动考虑在内!

用头寸规模作为止损设定的基础

在之前的课程里,我们已经提及了这点:使用头寸规模而非技术分析来确定止损并不是个好主意。我们从新手张三那学到了这点,还记得吗?

正如之前所讨论的,使用头寸规模计算止损的大小与市场行为毫无关联。既然我们在外汇市场中交易,根据市场变动设定止损将更有理有据。

毕竟,你是根据技术分析确定入场点位和目标的,那么设定止损时也理应如此。

我们并不是说你应完全忘了头寸规模。我们的建议是你应在确定了止损点位后再计算头寸规模。

止损设定的太宽

一些交易者会犯止损设定太宽的错误,祈求价格按照他们的设想走。

那设定止损的意义在哪呢?持有一个不断受损的交易,而不用那笔钱进行获利交易的理由是什么呢?

止损设定的太宽会增大你的交易变动幅度,这样你冒那么大的险才值得。

首要原则是止损离入场点位的距离要小于获利目标与该点位间的距离。

你当然希望风险小、回报大,对吧?有好的回避风险比,如2:1,你更有可能在交易正确率至少为50%的情况下获利。

直接将止损设定在支撑或阻力水平

止损设定太紧?不好。止损设定太宽?不好。那好的止损应该在哪呢?好吧,反正不是直接设定在支撑或阻力位上,这点我们可以保证。

怎么会?不是才说过技术分析是确定止损的方法吗?

当然,注意到附近的支撑和阻力水平对我们设定止损有很大的帮助。

如果你做多,看看你入场位置附近的支撑水平在哪,将止损设定在那个区域。

如果你做空,你应该找找入场位置附近的阻力位,并将止损设定在那附近。

但是为什么将止损设定在支撑或阻力水平上不好呢?

原因在于价格仍有可能变化,在触及该水平前按照你预想的方向变动。如果你将止损设定在该区域之外,你可能更确定或更不确定支撑和阻力位是否已经被打破了,然后你就能知道你的交易理念是否错了。